Back-Rank Checkmate Potential

3234-handpainted-modern-oil-painting-on-canvas-wall-art-picture-for-home-decor-font-b-unique

If crude oil loses the highlighted daily chart bear flag, below, I am considering DTO SCO inverse ETF’s to short black gold.

As you know, crude has been quite weak for some time and has failed to hold much of a bounce at all.

Against that backdrop, a washout is still a clear risk, especially with the USO ETF loses $30.

What are you trading this morning?

____________________________________________________

USO

Night Owl Open Forum

night-owl

For you night owls out there, feel free to drop me any market/trading-related topics you would like me to cover in a weekend video.

In addition, anything else about the current market, feel free to drop below.

Speak your mind, night owls.

Stock #Market Recap 10/23/14 {Video}

If you enjoy my blog posts and videos, then I would encourage you to please click on this 12631 hyperlink for more details about joining our great team of traders at a very reasonable price. 12631 is a trading service which @RaginCajun and I direct here at iBankCoin.

In addition, please see the top of this video for details about attending our iBC Investors Conference this November.

Enjoy tonight’s video, and enjoy your evening. 

Direct Vimeo Link Click Here

Back to the Future with These Two Iconic Brands

pop_culture_portraits_16

I am looking at Burger King as a long idea, especially over $32, with $29 below needing to hold. Note the decent technical setup on the first daily chart, below.

And General Motors is still a short setup, reversing lower today on the daily chart, second below.

What are you trading this afternoon?

________________________________________________________________

BKW

________________________________________________________________

GM

Eluding the Illusion

qOtVtUk

Biotechnology stocks continue to give off an aura of invincibility, as demonstrated by the biotech sector ETF’s latest V-shape rally from just below its 200-day moving average to new all-time highs…in just a matter of days.

At this point, it is hard to see bears being able to hold the broad market initiative for more than a day or two unless we see a meaningful downside reversal which holds in this sector. CELG REGN appear to be leafing the group, while BIIB GILD are slightly lagging and not making new highs today.

I have taken a few shots on the short side but have not been stubborn with them–There will be plenty of time to press and hold when the market finally does crack.

For now, biotechs are part and parcel of the pain trade for underinvested fund managers who need to chase performance into year-end.

The monthly sector ETF chart, below, illustrates my point, with a steep ascent coupled with October’s enormous and rare monthly candle, obviously well off the lows.

______________________________________________

IBB

 

Back-Rank Checkmate Potential

3234-handpainted-modern-oil-painting-on-canvas-wall-art-picture-for-home-decor-font-b-unique

If crude oil loses the highlighted daily chart bear flag, below, I am considering DTO SCO inverse ETF’s to short black gold.

As you know, crude has been quite weak for some time and has failed to hold much of a bounce at all.

Against that backdrop, a washout is still a clear risk, especially with the USO ETF loses $30.

What are you trading this morning?

____________________________________________________

USO

Night Owl Open Forum

night-owl

For you night owls out there, feel free to drop me any market/trading-related topics you would like me to cover in a weekend video.

In addition, anything else about the current market, feel free to drop below.

Speak your mind, night owls.

Stock #Market Recap 10/23/14 {Video}

If you enjoy my blog posts and videos, then I would encourage you to please click on this 12631 hyperlink for more details about joining our great team of traders at a very reasonable price. 12631 is a trading service which @RaginCajun and I direct here at iBankCoin.

In addition, please see the top of this video for details about attending our iBC Investors Conference this November.

Enjoy tonight’s video, and enjoy your evening. 

Direct Vimeo Link Click Here

Back to the Future with These Two Iconic Brands

pop_culture_portraits_16

I am looking at Burger King as a long idea, especially over $32, with $29 below needing to hold. Note the decent technical setup on the first daily chart, below.

And General Motors is still a short setup, reversing lower today on the daily chart, second below.

What are you trading this afternoon?

________________________________________________________________

BKW

________________________________________________________________

GM

Eluding the Illusion

qOtVtUk

Biotechnology stocks continue to give off an aura of invincibility, as demonstrated by the biotech sector ETF’s latest V-shape rally from just below its 200-day moving average to new all-time highs…in just a matter of days.

At this point, it is hard to see bears being able to hold the broad market initiative for more than a day or two unless we see a meaningful downside reversal which holds in this sector. CELG REGN appear to be leafing the group, while BIIB GILD are slightly lagging and not making new highs today.

I have taken a few shots on the short side but have not been stubborn with them–There will be plenty of time to press and hold when the market finally does crack.

For now, biotechs are part and parcel of the pain trade for underinvested fund managers who need to chase performance into year-end.

The monthly sector ETF chart, below, illustrates my point, with a steep ascent coupled with October’s enormous and rare monthly candle, obviously well off the lows.

______________________________________________

IBB